Autoneum Holding Ag · SIX:AUTN
Autoneum — Investor Presentation (July 2022)
51 slides from Autoneum's investor presentation, July 2022
Slide 1: IR Presentation, July 2022
Bernhard Wiehl, CFO IR Presentation, July 2022 Autoneum. Mastering sound and heat.
Slide 2: Agenda
Agenda 1. About Autoneum 2. Results Half-Year 2022 3. Outlook 4. Technology trends 5. Corporate Responsibility IR-Presentation 2022-07 2
Slide 3: At a glance
About Autoneum At a glance 2021 in review 24 Stock-listed company Represented in 24 A decade of innovation leadership Launch of battery electro- (SIX Swiss Exchange) countries in acoustic and thermal management magnetic shields for e-cars 11840 53 employees 53 production facilities Sustainability in
Slide 4: Further expansion of market and innovation leadership
Company Strategy Further expansion of market and innovation leadership Strategic priorities Strategic focus areas 2025 Grow Asia Innovate for New Mobility Drive Digitalization Advance Sustainability IR-Presentation 2022-07 4
Slide 5: Our six strategic priorities
Company Strategy Our six strategic priorities Generate profit & cash for growth Advance technological leadership Be the preferred partner Execute operational excellence of our customers Focus on sustainable acoustic & thermal management solutions Innovate for new mobility IR-Presentation 2022-07 5
Slide 6: Group Executive Board
Organization Group Executive Board Matthias Bernhard Wiehl Dr Alexandra Greg Sibley Andreas Kolf Fausto Bigi Holzammer Bendler CEO CFO Head Head Head Head BG Europe BG North America BG Asia BG SAMEA IR-Presentation 2022-07 6
Slide 7: Our products
Leading in acoustic and heat management Our products Exterior Engine Bay • Frunk • Engine* and E-Motor Encapsulations • Outer Dashes • Hoodliners • Engine Top Covers* • Outer Trunk Floor Insulators Interior Interior Floor Underbody • Inner Dashes • Under Floor and Under • Needlepunch Carpets Engine
Slide 8: Active in all automotive markets
Global presence Active in all automotive markets Autoneum Europe Locations with minority shareholders Associated companies and investments Belgium France Poland Switzerland Licensees ⋅ Genk ⋅ Aubergenville ⋅ Katowice ⋅ Sevelen ⋅ Blainville ⋅ Nowogard ⋅ Winterthur (HQ) Czech Republic ⋅ Lachapelle-aux
Slide 9: Customers
Customers Most car manufacturers worldwide Light vehicles Commercial vehicles IR-Presentation 2022-07 9
Slide 10: Proximity to customers
Global cooperation Proximity to customers Research and Technology Center / Regional acoustic Customer interface / and Development Centers Customer Business Units Vehicle manufacturers Global Product Management Aubergenville, France Katowice, Poland Gundernhausen, Germany Winterthur, Switzerland Seve
Slide 11: Key financials
Facts and figures 2021 Key financials 1700.4 CHF million Revenue 3.4% EBIT margin 30.1 CHF million Net profit Share of BG Asia increased from 14 to 16% Well-balanced customer portfolio Source: Annual Report, 31/12/2021 IR-Presentation 2022-07 11
Slide 12: Interior floor with highest share of Group revenue
2021 revenue split by product line Interior floor with highest share of Group revenue Interior floor Underbody Engine bay Body treatment Other • Non-woven carpets • Underbody shields • Engine and body • Dampers/stiffeners • Trunk parts • Tufted carpets • Floor pans mounted parts • Other acoustic par
Slide 13: Main levers for growth
Strategic focus areas Main levers for growth Grow Asia to 20% of revenue • China single largest automobile market worldwide • Well-established footprint of Business Group Asia across the region • Unexploited potential for new business in main market China Innovate for new mobility • Accelerating shi
Slide 14: Agenda
Agenda 1. About Autoneum 2. Results Half-Year 2022 3. Outlook 4. Technology trends 5. Corporate Responsibility IR-Presentation 2022-07 14
Slide 15: Half-Year 2022
0.5% Revenue increase in local 888.7 CHF million currencies Strong order intake with Revenue in Swiss francs products for BEV market Half-Year Extension of proven sustainable 2022 Increased inflation and rising concepts to new applications in e-mobility energy and raw material costs 7.6% EBITDA marg
Slide 16: Major achievements and challenges in the first half of 2022
Turnaround North America Major achievements and challenges in the first half of 2022 Achievements HY1 2022 Challenges HY1 2022 Next steps HY2 2022 13.4 1.5% CHF million Savings implemented Decrease in scrap rate Competitive labor Flexibilization was Further increase of Stabilize workforce in the amo
Slide 17: Important steps toward a sustainable future
Corporate Responsibility Important steps toward a sustainable future Conversion of production Improved environmental plants to renewable energy performance and reduced Increased use of recycled greenhouse gas emissions materials 91 community Technologies with an excellent engagement projects sustain
Slide 18: Key figures overview
Key figures Overview CHF million HY1 2021 HY1 2022 Change Revenue 890.3 888.7 −1.7 EBITDA 105.4 67.5 −37.9 in % of revenue (change in pp) 11.8% 7.6% −4.2 EBIT 44.7 6.4 −38.2 in % of revenue (change in pp) 5.0% 0.7% −4.3 Net result 25.5 −12.8 −38.3 Investments in tangible assets 10.0 10.4 0.4 Free ca
Slide 19: Revenue development
Revenue development Similar level year-on-year supported by inflation compensations CHF million 49.4% −6.7% 4.0% −4.9% 21.9 −1.7 −5.8 −23.8 14.3 −6.6 890.3 888.7 Organic revenue increase: 0.5% Revenue BG Europe BG North BG Asia BG SAMEA Corporate Currency Revenue HY1 2021 America and translation/ HY
Slide 20: Operating result (EBIT) development
Operating result (EBIT) development EBIT impacted by inflation and volume decline in Europe and China CHF million Margin Margin 5.0% 0.3% −25.5 Margin −5.6% 44.7 Margin Margin Margin −11.6 9.6% 16.6% 0.7% −3.4 3.3 −1.0 6.4 EBIT BG Europe BG North BG Asia BG SAMEA Corporate and EBIT HY1 2021 America
Slide 21: Income statement
Income statement Slightly positive EBIT but negative net result • Revenue in Swiss francs CHF million HY1 2021 HY1 2022 Change decreased by 0.2% Revenue 890.3 888.7 −1.7 • Lower financing costs in line EBITDA 105.4 67.5 −37.9 with lower average financing level, offset by negative EBIT 44.7 6.4 −38.2
Slide 22: Cash flow statement
Cash flow statement Solid free cash flow generation in spite of reduced profitability • Drop in FCF smaller than EBITDA CHF million HY1 2021 HY1 2022 Change decline of CHF 37.9 million Cash flows from operating activities 76.5 54.6 −21.9 • Investments in tangible assets kept Cash flows used in inves
Slide 23: Balance sheet
Balance sheet Net debt reduced further and stable equity ratio • Increase in total assets by around CHF million 31.12.2021 30.06.2022 Change 2.0% supported of positive currency Total assets 1 502.0 1 532.9 30.9 translation and hyperinflation effects of CHF 15.5 million Non-current assets (excl. leas
Slide 24: Agenda
Agenda 1. About Autoneum 2. Results Half-Year 2022 3. Outlook 4. Technology trends 5. Corporate Responsibility IR-Presentation 2022-07 24
Slide 25: Global light vehicle production forecast
Global light vehicle production forecast Volumes in HY2 2022 expected to be higher than in HY1 2022 • Full-year 2022 automotive production expected to rise by 4.7% to 80.8 million vehicles* compared to 2021, driven by second half of the year • Production volumes expected to be 8.8% higher in HY2 202
Slide 26: Revenue with BEVs to outperform global BEV market share
E-mobility in focus Revenue with BEVs to outperform global BEV market share Global EV powertrain forecast* 2022 – 2028 (million units) • Current order intake with BEVs Autoneum revenue share on BEV already indicates a significant Global electric market share increase by 2025, with interior Global BE
Slide 27: Outlook 2022
Outlook 2022 Market According to global market forecasts*, automobile production will pick up again in the second half of the year with growth of 8.8% compared with the first half-year 2022. For full-year 2022, global automobile production is projected to reach 80.8 million units, which is equivalen
Slide 28: Light vehicle production by region
Light vehicle production by region Global growth until 2025 mainly driven by China 89.0 m units in Actuals 2019 89.0 m units in Actuals 2021 (-13.2% ) vs. 2019 80.8 m units in Actuals 2022 (+4.7% ) vs. 2021 92.4 m units in Forecast 2025 (+14.3% ) vs. 2022 +18.6% +0.7% -25.7% 29.3 +13.5% +15.6% -20.0
Slide 29: Medium-term financial targets
Medium-term financial targets Revenue development in line with market EBITDA margin of 13% Free cash flow 6% of revenue Equity ratio >35% Dividend payout of at least 30% of net profit attributable to shareholders of Autoneum Holding Ltd IR-Presentation 2022-07 29
Slide 30: Agenda
Agenda 1. About Autoneum 2. Results Half-Year 2022 3. Outlook 4. Technology trends 5. Corporate Responsibility IR-Presentation 2022-07 30
Slide 31: Expected production volumes by drive type
E-mobility in focus Expected production volumes by drive type million units 120 98.3 100 93.6 94.8 96.9 • Accelerating shift to electric vehicles: 93.1 89.0 91.0 By 2029, more than 35% of light 87.3 vehicles produced globally are 80.4 80 77.2 expected to be BEVs. 74.6 Revenue with traditional Auto
Slide 32: Traditional product portfolio position for BEVs
Product strategy Traditional product portfolio position for BEVs Products ICEs Hybrids BEVs Carpets Floor insulators Inner dashes Underbody systems Wheelhouse outer liners (WOL) Trunk (Trunk Side Trim) Heatshields Engine bay Rear insulation IR-Presentation 2022-07 32
Slide 33: New mobility trends
Innovate for new mobility C-A-S-E-S – megatrends support growth Topics Opportunities Components Missing ICE heat source Acoustic components with thermal properties Inner dashes, carpet systems Connectivity Reducing vehicle weight Lightweight construction expertise and product portfolio Autonomous Ne
Slide 34: Product innovations for electric vehicles
Product innovations for electric vehicles Development roadmap Under investigation New specific BEV products Cabin thermal comfort Battery E-motor electromagnetic encapsulations Thermal management shields – launched – awarded of vehicle battery Traditional portfolio suitable for BEVs Frunk – awarded
Slide 35: Key takeaways
E-mobility and future growth potential Key takeaways Electrification and sustainability are the key driving forces for future development. Autoneum has developed and successfully launched five new products for BEVs applying and optimizing existing technologies for new requirements of electric vehicl
Slide 36: Selected innovations
Extensive product portfolio Selected innovations Process Technology Alternative Flexi-Loft Backcoating (ABC) Application Application • Needlepunch carpets • Inner dashes • Carpets Advantages Advantages • Use of thermoplastic adhesive • Unique fiber blend increases instead of latex sustainability geo
Slide 37: Selected innovations
Extensive product portfolio Selected innovations Technology Technology Relive-1 Ultra-Silent Application Application • Tufted carpets • Frunk for electric vehicles • Underbody systems Advantages Advantages • “Autoneum Pure.” label for • 50% lighter than plastic outstanding environmental solutions co
Slide 38: Measurement systems
50 years of cutting-edge technology Measurement systems Autoneum is leading provider of measure- ment systems for vehicle acoustics Innovative systems for measuring NVH (noise, vibration, harshness) behavior Global industry standard Used by automotive manufacturers, suppliers and laboratories IR-Pre
Slide 39: Simulation
Software for component optimization Simulation Acoustic Garage – first online configurator around noise protection in vehicles (acoustics.autoneum.com) Programs developed in-house for optimizing vehicle NVH behavior “Best in class” solutions for vehicle development and production Tailored for vehicl
Slide 40: Agenda
Agenda 1. About Autoneum 2. Results Half-Year 2022 3. Outlook 4. Technology trends 5. Corporate Responsibility IR-Presentation 2022-07 40
Slide 41: Challenges and opportunities
Sustainability in focus Challenges and opportunities Growing requirements from society, market and customers: • Global fight against climate change and environmental pollution • Paris Climate Agreement targets • Reduction of Scope 1, 2 and 3 emissions • OEM sustainability targets to drive supplier a
Slide 42: Key achievements in 2021
Advance Sustainability Strategy 2025 Key achievements in 2021 67 eco-efficiency projects: With its Advance Sustainability Strategy 2025, Autoneum has Waste reduction defined an ambitious set of environmental, social and ethical Energy consumption targets. Water usage Launch of two 91 innovations wit
Slide 43: Ambitious targets in four dimensions
Advance Sustainability Strategy Ambitious targets in four dimensions • Health & safety • Sustainable innovations • Fair working conditions • Eco-efficient processes • Employee development • Waste reduction & recycling • Employee well-being • Energy management • Diversity & inclusion • Emission reduc
Slide 44: Vision 2027: Sustainable products & production processes
Advance Sustainability Strategy Vision 2027: Sustainable products & production processes Continuous focus on Sustainable innovations Material waste reduction & increase of recycling capacities Reduction of emissions, energy and water consumption Building a culture of environmental sustainability IR-
Slide 45: CO2 emissions, waste and water
Impact and key levers for improvement CO2 emissions, waste and water Sources of CO2 emissions according to Greenhouse Gas Protocol Scope 1 ~ 5% Direct emissions from company-owned and Revised environmental operational targets 2027 controlled resources Levers: steam loss, thermal insulation Reduce Sc
Slide 46: Autoneum Pure. Sustainability label for products
Autoneum Pure. Sustainability label for products Technologies with an excellent environmental performance throughout the entire product life cycle. Partially or entirely made of recycled materials Production cut-offs are reclaimed, processed and reused again Significantly lighter than comparable sta
Slide 47: Sustainability champions
Autoneum Pure. Sustainability champions Ultra-Silent Relive-1 • Carpet yarns consisting of up to • Made of 100% PET with up to 70% 97% recycled PET recycled fibers • More robust and dirt-repellent than • 50% lighter than equivalent plastic standard carpets parts • PET cut-offs can be fully reclaimed
Slide 48: Sustainability champions
Autoneum Pure. Sustainability champions Di-Light • Made of up to 97% recycled PET • 20% lighter than conventional needlepunch carpets • Mono-material and fully recyclable • Use: non-woven carpets Mono-Liner • Made of 100% PET with up to 70% recycled fibers • Up to 50% lighter than corresponding plas
Slide 49: Contacts and Event Calendar
Contacts and Event Calendar Investors and Financial Analysts Media Contact Address Bernhard Weber Claudia Güntert Autoneum Holding Ltd Head Financial Services & IR Head Corporate Communications Schlosstalstrasse 43 / P.O. Box T +41 52 244 82 07 T +41 52 244 83 88 CH - 8406 Winterthur investor@autone
Slide 50: Disclaimer
Disclaimer Autoneum is making great efforts to include accurate and up-to-date information in this document, however, we make no representations or warranties, expressed or implied, as to the accuracy or completeness of the information provided in this document and we disclaim any liability whatsoev
Slide 51: Autoneum. Mastering sound and heat.
Autoneum. Mastering sound and heat.